Spring is in full swing, and school is out for the summer, which may be queueing up an uptick in the Treasure Valley Real Estate market. The latest data show some encouraging trends and land the latest PTC Index at 249 points.
New Home Sales
New Home Sales fell slightly in May versus April by nearly 13 percent; compared to a year ago, they are down about 18 percent.
Existing Home Sales
Existing Homes sales made an impressive showing this month, up nearly 24 percent from April. Compared to May 2022, they are down about 22 percent.
Building Permits
Building permits surged versus the prior month with 368 filings in May, which represents a 68 percent increase. They are also up nearly five percent from this time last year.
Average Treasure Valley Sales Price
The average sales price (ASP) for Ada & Canyon County inched up another two percent this month over April landing at $564,525. Compared to a year ago, the ASP is down a bit by about 8 percent.
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The PTC Index is a monthly measurement of the vibrancy of the Treasure Valley real estate market. Based on a custom-weighted algorithm, it combines nine critical measurements of the real estate market into a single, useful number: the PTC Index.